Avalanche (AVAX) is witnessing substantial growth in network utilization, with daily transactions and active addresses showing significant increases. This expansion is primarily fueled by heightened activity in decentralized finance (DeFi) applications and gaming integrations on the platform.
Despite bullish indicators, AVAX faces formidable technical resistance between $22.5 and $23.6. Market analysts emphasize that a sustained close above $24.1 is required to confirm decisive bullish momentum, with current price action suggesting potential volatility near these critical levels.
Derivatives metrics reveal mixed market sentiment: Taker Buy Dominance and Open Interest demonstrate rising trader confidence, while whale netflow patterns indicate cautious positioning near resistance zones. Open Interest in AVAX futures has climbed 11.37% to $558 million, reflecting renewed speculative interest tempered by measured caution.
Avalanche’s underlying network fundamentals remain robust, with daily transactions surging 275% since early May. However, price appreciation continues to be constrained by persistent resistance between $23.3 and $24.5, awaiting a decisive catalyst for potential breakout.